Cardiovascular Catheters Market Size to grow by USD 7.6 billion between 2024-2028
According to a research report “ Cardiovascular Catheters Market” by Product (Cardiovascular therapeutic catheters, Cardiovascular diagnostic catheters) End-user (Hospitals, Ambulatory surgical centers, Clinics) Geography (Asia, North America, Europe, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 7.6 billion, at a CAGR of 8.13% during the forecast period. The global market for cardiovascular catheters is poised for significant growth due to the rising prevalence of heart valve diseases, particularly in the aging population. According to the National Institutes of Health (NIH), approximately 10% of individuals aged 75 years and above were diagnosed with degenerative abnormalities related to severe aortic stenosis, mitral regurgitation, and tricuspid regurgitation in 2020. With an expanding elderly population base in both developed and developing countries, the incidence of heart diseases is projected to increase, fueling the demand for advanced heart disease treatment devices, including cardiovascular catheters, during the forecast period.
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By Product, the Cardiovascular therapeutic catheters segment is projected to dominate the market size in 2024
The cardiovascular catheter market is experiencing significant growth due to the increasing prevalence of heart disease and the expansion of digital catheterization laboratories in hospitals. This trend is driven by the rising incidence of coronary heart disease and the concentration of major market players. However, the preference for non-invasive angiography may hinder market growth. Notably, the hospital segment is expected to dominate the market due to the high demand for cardiovascular catheters in delivering superior patient care. The region is witnessing a substantial increase in the number of catheterization laboratories, further fueling the market expansion.
By End-user, Hospitals segment is expected to hold the largest market size for the year 2024
In the cardiovascular catheters market, the therapeutic segment encompasses various types of catheters used for diagnosing and treating cardiovascular conditions. Traditional balloon catheters, or conventional catheters, are a cost-effective option for angiography procedures. Another segment, Drug-Eluting Balloon (DEB) catheters, is gaining traction due to their use in peripheral artery disease treatment. The efficacy of DEB catheters lies in their antiproliferative drug-coated surfaces. Cutting balloon catheters are utilized for coronary artery stenosis dilation, while scoring balloon catheters are employed for restenosis and complex lesion treatment. Cardiac ablation catheters are essential tools for ablation procedures aimed at correcting abnormal heart rhythms.
Asia is forecasted to hold the largest market size by region in 2024
The Cardiovascular Catheters market represents a significant business opportunity, driven by the increasing prevalence of cardiovascular diseases and advancements in minimally invasive procedures. Key players in this market include Edwards Lifesciences, Medtronic, and Boston Scientific, who continually innovate to meet growing demand for catheters used in angioplasty, pacemaker implantation, and diagnostic procedures. This sector's future growth is expected to be robust, fueled by technological advancements and rising healthcare expenditures.
The Cardiovascular Catheters Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The global market for cardiovascular catheters is witnessing significant growth due to the increasing prevalence of cardiovascular diseases (CVDs) and cardiovascular disorders among patients worldwide. According to the World Health Organization, CVDs are the leading cause of death and disability, affecting millions of people, particularly those with chronic illnesses such as diabetes and hypertension. Physicians are increasingly turning to advanced catheter systems, including those leveraging nanotechnology, remote monitoring, and 3D mapping, to diagnose and treat various cardiovascular conditions. Cardiovascular catheters find extensive applications in procedures such as coronary angiography, Angioplasty, and stroke intervention. The market includes catheters for various applications, including those for the nervous system, gastrointestinal tract, urology, and the bladder and urinary tract. Key players in the market include Medtronic, Boston Scientific, and Abbott Laboratories. Various governments and organizations are investing in research and development to improve catheter technology and make it more accessible to patients. For instance, FrontPublic Health, a European Union initiative, is funding research on minimally invasive catheter-based therapies for chronic diseases. The market is expected to continue growing, driven by the increasing burden of medical diseases and the need for minimally invasive procedures.
Market Research Overview
The global market for vascular catheters is witnessing significant growth due to the increasing prevalence of cardiovascular diseases (CVDs) such as myocardial infarction, congenital heart disease, and arrhythmia, which require diagnostic and therapeutic interventions using catheters. Valvular disease, urology catheters for urinary tract-related diseases, and specialized catheters for Ophthalmic ailments and the nervous system are other major applications driving the market. Advanced technologies like triple-lumen catheters, training catheters for therapeutic purposes, and nanotechnology are transforming the cardiovascular devices industry. Surgical procedures like Coronary angiography and cardiac catheterization require skilled surgeons and specialized skills, making affordability and insurance coverage crucial. Urological catheters, including single-lumen and double-lumen, are essential for managing conditions like permanent urinary retention. Remote monitoring and reimbursement policies are key considerations for healthcare providers and professionals in this context. Gastrointestinal tract diseases and chronic disorders like chronic obstructive pulmonary disease (COPD) also necessitate catheter use. Intravenous catheters and catheter systems are essential medical equipment for administering medications and fluids. Medical manufacturing technologies continue to innovate, with brands like Biomerics offering advanced catheter solutions. Mortality rate reduction and quality improvement are critical factors in the cardiovascular catheters market, with CVDs accounting for a significant portion of healthcare spending and hospitalizations. Additional features like 3D mapping and affordability are essential for market growth.
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